Answer:
June 2019
Interest Expense $ 2,531.25 (debit)
Bank $ 2,531.25 (credit)
September 2019
Interest Expense $ 2,531.25 (debit)
Bank $ 2,531.25 (credit)
December 2019
Interest Expense $ 2,531.25 (debit)
Bank $ 2,531.25 (credit)
March 2020
Interest Expense $ 2,531.25 (debit)
Bank $ 2,531.25 (credit)
Explanation:
For each Month, Recognise an Expense - Interest and Also de-recognise the Asset - Cash as interest is being paid.
Interest Expense Calculation = 3/12×$225,000×4.5%
= $ 2,531.25
The UCC rule says that a merchant who offers to buy, sell, or lease goods and gives a written and signed assurance on a separate form that the offer will be held open cannot revoke the offer for the time stated or if no time is stated, for a reasonable time is referred to as the <u>Firm Offer Rule.</u>
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<h3><u>A Firm Offer: What Is It?</u></h3>
When goods are sold, a firm offer is deemed to have been made when a guarantee to keep the offer open has been signed and the selling merchant meets the requirements for a merchant under the Uniform Commercial Code. Customers frequently ask for a definite offer so they can be certain of their cost over a predetermined period of time. A lot of retailers also request definite offers from their suppliers. Firm offers have a number of benefits, but there is a chance that things could change and the original offer would no longer be appropriate.
For instance, you might not be able to maintain the price you initially proposed due to rising raw material costs or running out of stock.
Only the time period specified in the offer is valid for firm offers. If the offer does not include a deadline, it will be valid for a maximum of three months.
Learn more about the firm offer rule with the help of the given link:
brainly.com/question/13640672?referrer=searchResults
#SPJ4
Answer:
(D) $4,000
Explanation:
Initial amount distributed is $31,000
Earnings and Profit (E & P) $25,000
Therefore, Distribution in excess of earnings and Profit would be;
= Initial amount distributed - Earnings and Profit
=$31,000 - $25,000
=$6,000
Sally basis in her Dixie stock after the distribution would be ;
= Basis - Excess distribution
=$10,000 - $6,000
=$4,000
Answer: A
Explanation: Just passed the test:)
The answer that fits the given blank above is the term CROWDSOURCING. When we say crowdsourcing, this is the process or the ability to obtain or gather information that would be later used for a certain project or task. This involves a large number of people and typically asking their preferences and opinions.
